In South Korea, factory output in November showed a decline at a rate that exceeded preliminary expectations regarding the intensity of the relevant process.
The mentioned information is contained in government data that was published on Monday, December 30th. It is worth noting that a sharper-than-expected decline in factory output was recorded against the background of a slowdown in exports and weakening business confidence.
November’s industrial output index fell 0.7% in a month on a seasonally adjusted basis. It is worth noting that in October, the corresponding indicator showed no changes on a monthly basis. Economists surveyed by the media predicted that the mentioned index would fall by 0.4% in November.
Statistics Korea data shows that on an annualized basis, the specified indicator showed an increase of 0.1%. It is worth noting that in October the index grew by 6.3%. Economists polled by the media predicted that this indicator would increase by 0.4% in November.
It is worth noting that in November, the growth of South Korean exports slowed to a 14-month low. The corresponding dynamic is related to the fact that shipments to the United States and China have fallen due to uncertainty related to Washington’s tariff policy since Donald Trump’s return to the White House in January.
In November, South Korean exports grew by 1.4% year-on-year. It is worth noting that a month earlier this indicator increased by 4.6%. As of November, South Korean exports had been on an upward trajectory for 14 months. In this case, the year-on-year growth of the indicator is implied.
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